155How duty is charged on relevant acquisitions—private landholders

#### 155 How duty is charged on relevant acquisitions—private landholders 155 How duty is charged on relevant acquisitions—private landholders > > (1) If an acquisition statement that discloses a relevant acquisition in a private landholder does not disclose any other acquisitions during the statement period, duty is chargeable, at the general rate, on the amount calculated by multiplying the unencumbered value of all land holdings and goods of the landholder in New South Wales (calculated at the date of acquisition of the interest acquired) by the proportion of that value represented by the interest acquired in the relevant acquisition. > > > (2) If a relevant acquisition results from the aggregation of the interests of associated persons, the reference in subsection (1) to the interest acquired includes a reference to any interests acquired by associated persons on the same date. > > > (3) If an acquisition statement disclosing a relevant acquisition in a private landholder also discloses one or more other acquisitions during the statement period, duty is chargeable, at the general rate, on the aggregate of amounts severally calculated, in the manner provided by subsection (1), in respect of each interest required to be disclosed in the statement. > > > (4) Duty payable under this section is to be reduced by the sum of the duty paid or payable under this Act in respect of an acquisition, during the statement period, by the person or any associated person of an interest in the same landholder, but only in proportion to the extent to which the duty paid or payable is attributable to the amount of the duty payable under this section. > > > (5) Duty payable under this section is to be reduced by the sum of the amounts severally calculated, in accordance with the following formula, in respect of each acquisition of an interest in the landholder made by the person, or an associated person, during the statement period— > > > > %20AND%20(No%3D123)%20AND%20(Year%3D1997)%20AND%20(%22Historical%20Document%22%3D0))/g12.gif) > > where— > > > > A is the unencumbered value of the land holdings and goods in New South Wales of the landholder at the time the acquisition was made, and > > > > B is the unencumbered value of all property of the landholder at that time, and > > > > C is the sum of— > > > > > (a) the duty under this Act paid or payable in respect of— > > > > > > > (i) a dutiable transaction in relation to the units or shares acquired, or > > > > > > > (ii) a capital reduction or a rights alteration under Part 3 of Chapter 3 by which an interest in the landholder was acquired, or > > > > > > > (iii) an allotment of shares under Part 5 of Chapter 3 by which an interest in the landholder was acquired, and > > > > > (b) any duty of a like nature so paid or payable under a law of another Australian jurisdiction. > > > (6) If a relevant acquisition is made owing to the aggregation of the interests of associated persons, but the Chief Commissioner is satisfied that the associated persons acquired their respective interests independently, the Chief Commissioner may assess and charge duty on each separate acquisition without aggregating the interests of the person who made it with the interests of associated persons. > > > (7) Duty is not chargeable under this section on the acquisition of an interest in a landholder that is required to be disclosed in an acquisition statement if the acquisition is an exempt acquisition. > > > (8) This section is subject to Part 3. > > **s 155:** Ins 2009 No 51, Sch 1.2 \[2\].